Student Loans for DePaul Students

About DePaul University

A Roman Catholic university located in the heart of Chicago, DePaul provides students with a top-tier education with a focus on community service and stewardship. DePaul was founded in 1898, and has since grown to a community of about 16,000 undergraduate students who have frequently ranked their undergraduate experience as extremely satisfying; so satisfying, in fact, that DePaul has placed first on a US News and World Report list of colleges with undergraduates most satisfied about their college experience. That’s certainly high praise.

DePaul is a bit pricey, and living in Chicago isn’t too cheap either, so if you’re receiving DePaul financial aid, be sure to come up with a personal budget. We’re not talking about figuring how to pay for the big-ticket items – that should be obvious – we’re talking about day-to-day expenses. Most people don’t even think about personal expenses when planning out their budgets and financial aid; instead, they focus on tuition, room and board, and fees: all the heavy hitting costs. Personal expenses, if you let yourself and your debit card run rampant, can really eat into your savings and financial aid budget, so be sure you stay smart and limit your beer runs/trips to Allende for delicious, delicious food. Keep a close eye on your cash, and you’ll be happy you did.

Applying for DePaul Financial Aid

To apply for DePaul financial aid, students and families need to submit the Free Application for Federal Student Aid (FAFSA). The data you’ll provide on that form will allow both the federal government and the DePaul University financial aid office to make a decision as to your financial need, and in turn, the amount of financial aid you are eligible to receive. Just one form – that’s all you need to do. Pretty good, right? We think so. If you have any really detailed questions, contact the DePaul University financial aid office, and they’ll take care of you. If you have any more basic questions about filing the FAFSA, check out our resource center for more information. Once you send off your FAFSA, you’re done, and your aid package will come with the next tuition bill.

DePaul and Student Loans

Grants, student loans, work-study programs, and scholarships: these are the four mainstays of financial aid awards, and these are what you will find in your DePaul University financial aid package. Exactly how much of each one will depend on your financial need, but it’s a safe bet that you’ll see a little of everything. Over half of the student body at DePaul wins up taking out federal student loans, and about 6% wind up taking out private student loans. If your aid package from DePaul doesn’t quite cover all of your costs and you’ve run out of aid sources, consider taking out a private student loan.

When taking out a private student loan, you want to make sure you find the lowest-cost, most favorable loan for you. That is nearly always a tricky process, but we’re here to help you. You can use our student loan comparison tool to search for and compare loans from a variety of top lenders, and once you find a loan that’s right for your budget and financial need, you can go ahead and apply – simple as that.

Frequently Asked Questions

Are there any financial aid opportunities available for minority students through the DePaul University financial aid program?

Yes. The DePaul University financial aid program is committed to making DePaul a diverse university, and has special initiatives that reach out and assist students from underrepresented socioeconomic and minority backgrounds. DePaul practices need-blind admissions, meaning such factors are not evaluated in admitting students to the University, but financial aid may be preferably disbursed to such students. One aid option is the Minority Teacher of Illinois Scholarship (MTI) is specifically for minority students interested in teaching. This scholarship awards $5,000 per academic year and requires applicants to make a commitment to teach at an Illinois school. This is just one of many aid options available to minority students through the DePaul University financial aid program — check out their website or call their office to learn more about the other available financing options.

Federal loan information: All colleges participate in the Direct Lending program, which means a student enrolled at that school receives their federal student loans (including Stafford, PLUS and GradPLUS loans) directly from the school instead of from a lender.